House Passes a $484 Billion Relief Package; Treasury and the SBA Release New Guidelines for PPP Loans
- On Thursday, April 23, 2020, the U.S. House of Representatives voted in favor of the $484 billion relief package that passed in the Senate earlier this week. Once signed into law, the legislation will revive the Small Business Administration (SBA) Paycheck Protection Program (PPP),... ›
SBA Overhauls the Disaster Loan Application Process in Response to the CARES Act
By: Damien C. Specht
During these uncertain times, small businesses have been pursuing both Paycheck Protection Program and SBA Economic Injury Disaster loans. Note, however, that Disaster loan applications submitted manually to the SBA prior to March 27 may require resubmission. After the passage of the CARES Act,... ›Treasury Department Issues Guidance (and Application) for Paycheck Protection Program Loans
By: Tina D. Reynolds and Damien C. Specht
On Tuesday afternoon, the Treasury Department released its guidance concerning the Paycheck Protection Program (PPP), which was authorized by Congress under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Under the PPP, qualified small businesses, eligible non‑profits, self-employed individuals, and independent contractors may... ›SBA’s Long-Awaited Implementation of the Runway Extension Act Is Finally Here
By: Damien C. Specht and Alissandra Young McCann
For many small business government contractors, the winter holidays came early on December 5, 2019, when the Small Business Administration (“SBA”) issued its final rule adjusting its regulations on the calculation of average annual receipts in small business size determinations for revenue-based size standards.... ›MoFo Webinar: Navigating Small Business and Disadvantaged Business Opportunities
By: Damien C. Specht and Alissandra Young McCann
On Wednesday, September 18, 1-2:30PM ET, MoFo partner Damien Specht and associate Ali Young will present a Clear Law Institute webinar titled “Navigating Small Business and Disadvantaged Business Opportunities.” The Federal Government gives many opportunities to small businesses, granting them more than $100 billion... ›Five-Year Annual Receipts: Don’t Start Until SBA Says “Go!”
By: Damien C. Specht
Absent further action by the Small Business Administration (“SBA”) Office of Hearings and Appeals or a Federal Court, the GAO has effectively ended the argument as to whether the Small Business Runway Extension Act of 2018 (“Runway Extension Act”) immediately changed the annual receipt... ›Highlights From the Currently Stalled Small Business Administration Reauthorization and Improvement Act of 2019
By: Damien C. Specht and Alissandra Young McCann
Last month, Senator Marco Rubio, Chairman of the Senate Committee on Small Business and Entrepreneurship, released the Chairman’s mark to the Small Business Administration (SBA) Reauthorization and Improvement Act of 2019 (the “SBA Reauthorization Act”). This legislation aims to modernize and streamline SBA programs,... ›SBA Proposed Rule Revised Timeframe for Receipt Calculation in Size Determinations
By: Damien C. Specht and Locke Bell
Responding to statutory requirements in the 2018 Small Business Runway Extension Act, the Small Business Administration (SBA) issued a proposed rule on June 24, 2019 to adjust its regulations on the calculation of average annual receipts in small business size determinations. This change would... ›Key Takeaways from the Small Business Administration’s Revised Policy Directives for the SBIR and STTR Programs
By: Tina D. Reynolds and Damien C. Specht
The Small Business Administration (SBA) has statutory authority to establish federal Government-wide policies to implement the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. SBA recently issued a significantly revised final SBIR/STTR Policy Directive, which is effective May 2, 2019.... ›Class Waivers of the Non-Manufacturer Rule: New OHA Decision Creates Uncertainty
By: Damien C. Specht and James A. Tucker
Those familiar with Federal procurements know the general rule: If you submit a proposal against a solicitation despite disagreeing with one of its provisions, you usually waive the right to challenge that provision in the future. That rule applies to bid protests at both... ›